Apple head’s pay rises 11.5% to US$10.3m
Print Edition
APPLE Inc Chief Executive Tim Cook’s compensation rose 11.5 percent to US$10.3 million in 2015, the company said on Wednesday, a year when its sales grew 28 percent and profits by 35 percent but its shares fell for the first time since 2008.
Chief Financial Officer Luca Maestri’s annual compensation rose about 81 percent to US$25.3 million in 2015. In fact, Cook was the lowest-paid of the company’s top executives. Angela Ahrendts, the senior vice president for retail and online stores, was the highest paid, with a total pay package of US$25.8 million
Cook’s base pay rose 14.4 percent to US$2 million last year, while non-equity incentive compensation gained 19 percent to US$8 million, according to a regulatory filing.
Apple had a good year for the most part under Cook. Sales in China in the most recent quarter nearly doubled from the same quarter in the prior year, and the iPhone continued to see record sales.
Apple hit a rough patch toward the end of 2015, with shares falling about 4.6 percent for the year, the stock’s first negative year since the global credit crisis.
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